Industry accepted 2% CSR rule, says Nasscom

The industry has widely accepted the 2% CSR rule, said Nasscom Foundation at the event 'The CSR Leadership Conference(CLC)' held here on Wednesday.

Nasscom Foundation in partnership with Goodera released the report: 'Catalyzing Change', and it reveals that growing number of companies are spending 100% and above of the CSR funds, among both MNCs and non-MNCs: 61. 6% of the surveyed companies reported spends of 100% or above their prescribed CSR budget. This includes 63.3% of the MNCs and 68% of the Non-MNCs.

The report added that smaller sized companies, which have turnover below  Rs 100 crore proactively pushing CSR initiatives with full utilisation of prescribed budget.

Shrikant Sinha, CEO, Nasscom Foundation, said, "The IT BPM Industry has been at the forefront of social development initiatives. Technology continues to prove a force multiplier in social impact with more than half of the companies that spent 100% or more of their CSR funds, claiming efficient use of technology to deliver innovative CSR programmes aligned to the goverment agenda."

The event saw over 400 CEOs, CXOs, CSR Heads, HR Heads of the top most companies from across various industries.